A systematic literature review of cyber security insurance

Abstract

Purpose of the article This paper is a systematic review of the literature. It describes and compares insurance options in the field of cyber security, especially from the perspective of small and medium-sized businesses. It also points to possible shortcomings and weaknesses in this area.

Methodology/methods To fulfill the main goal of this article, I used the method of secondary research. I used a system approach, which was based on the structured collection of the necessary data, in order to obtain as much relevant information in the field in order to achieve an overview of the state of scientific knowledge of insurance issues in the field of cyber security.

Scientific aim The main goal of my article is to identify insurance options (in the field of cyber security) for small and medium-sized companies based on a search of scientific literature. Compare possible types of insurance and reveal trends in this area. A partial goal of my contribution is to identify the shortcomings and threats that cyber security insurance brings.

Findings In the article, I analyzed the insurance options. I also looked at the shortcomings in this area. From the information obtained, I concluded that insurance in the field of cyber security is still quite high, on the other hand, it is becoming more and more popular with companies. This finding is mainly based on the fact that the business environment has recently undergone changes, which include, in particular, digitization, work with large amounts of data and the constant development of efficiency and speed.

Conclusions The whole article is a systematic review of the literature, which provides the reader with an overview of cyber risk insurance. The article contains a more comprehensive view of the solution to cyber security through insurance. This article also points out the shortcomings of cyber insurance and contains current trends in this area.